Maersk has collaborated with BNP Paribas to simplify its eurozone cash management by centralising euro liquidity across Europe. The project reduced more than 400 bank accounts across 27 countries into a streamlined model built around a single central euro account supported by virtual IBANs.

BNP Paribas supported the deployment of a virtual account and zero-balancing solution that enables multiple legal entities to process payments and collections through dedicated virtual IBANs while concentrating liquidity in real time. The structure improves cash visibility, simplifies banking relationships, and maintains flexibility for local regulatory requirements.

Netta Christensen, Head of Global Cash Management, Maersk:

"From the very start of my time at Maersk, I could see huge potential to streamline the set-up. Given that SEPA was fully up and running, I couldn’t understand why we were maintaining hundreds of accounts when the regulation already allowed for something far simpler.”

Read the entire Treasury Management International article in the pdf below: